Ethereum’s Price Surge: Key Drivers Analyzed
The anticipation of an Ethereum ETF approval and intense spot buying on Coinbase are key factors behind the recent Ethereum price rally.
Here’s a breakdown of the data insights:
• A significant uptick in deposit transactions to Coinbase was observed just before the price surge, suggesting increased demand for Ethereum as more buyers engaged in spot purchases and moved funds across exchanges.
• The Coinbase Premium Index spiked to 0.15, indicating heightened demand specifically on Coinbase, which points to a robust buyer interest.
• Notably, Coinbase’s Ethereum spot trading volume soared from 127.2M to 1.1B, nearly a 9-fold increase in just one day. Additionally, Coinbase’s share of the Ethereum trading volume among major exchanges rose significantly by 5.53%, from 5.83% to 11.36%.
• Monitoring shifts in the ETHE premium can offer insights into institutional demand, further reflecting the potential ETF approval’s impact.
For live updates, check out our dashboard.
Live Dashboard | @cryptoquant_official
The anticipation of an Ethereum ETF approval and intense spot buying on Coinbase are key factors behind the recent Ethereum price rally.
Here’s a breakdown of the data insights:
• A significant uptick in deposit transactions to Coinbase was observed just before the price surge, suggesting increased demand for Ethereum as more buyers engaged in spot purchases and moved funds across exchanges.
• The Coinbase Premium Index spiked to 0.15, indicating heightened demand specifically on Coinbase, which points to a robust buyer interest.
• Notably, Coinbase’s Ethereum spot trading volume soared from 127.2M to 1.1B, nearly a 9-fold increase in just one day. Additionally, Coinbase’s share of the Ethereum trading volume among major exchanges rose significantly by 5.53%, from 5.83% to 11.36%.
• Monitoring shifts in the ETHE premium can offer insights into institutional demand, further reflecting the potential ETF approval’s impact.
For live updates, check out our dashboard.
Live Dashboard | @cryptoquant_official
Could Huge Ethereum Netflows from Coinbase Be Related to Spot ETF Approval?
“Unknown investors in the US have bought more than $400 million worth of Ethereum on three different days in 2024.” – Link
By burakkesmeci | @cryptoquant_official
“Unknown investors in the US have bought more than $400 million worth of Ethereum on three different days in 2024.” – Link
By burakkesmeci | @cryptoquant_official
New Demand Wave?
“One of the drivers of this movement has been strong demand through ETFs, with net inflows of approximately $1.2 billion over the last week.” – Link
By Gustavo Faria | @cryptoquant_official
“One of the drivers of this movement has been strong demand through ETFs, with net inflows of approximately $1.2 billion over the last week.” – Link
By Gustavo Faria | @cryptoquant_official
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Dive into the dynamics of supply and demand in the crypto space!
In this episode, we focus on the intricacies of Ethereum and Bitcoin with expert insights from Jamie Coutts.
Don’t miss out on this in-depth analysis and macro view of the crypto market.
👉 Watch the full episode on YouTube
@cryptoquant_official
In this episode, we focus on the intricacies of Ethereum and Bitcoin with expert insights from Jamie Coutts.
Don’t miss out on this in-depth analysis and macro view of the crypto market.
👉 Watch the full episode on YouTube
@cryptoquant_official
Ethereum Futures Market Sentiment Analysis
“This upward trend in the Taker Buy Sell Ratio indicates a potential shift in market dynamics. If the ratio continues to rise, it may signal a reduction in aggressive selling pressure.” – Link
By ShayanBTC | @cryptoquant_official
“This upward trend in the Taker Buy Sell Ratio indicates a potential shift in market dynamics. If the ratio continues to rise, it may signal a reduction in aggressive selling pressure.” – Link
By ShayanBTC | @cryptoquant_official
TON Blockchain Becomes More Decentralized!
“A decline in the Gini coefficient over time on the TON blockchain can indicate a more equitable distribution of wealth among TON token holders.” – Link
By joaowedson | @cryptoquant_official
“A decline in the Gini coefficient over time on the TON blockchain can indicate a more equitable distribution of wealth among TON token holders.” – Link
By joaowedson | @cryptoquant_official
This week we’ve witnessed Ethereum surge over 22% in anticipation of ETF approval, marked by a significant short squeeze and substantial buying activity. Here’s the detailed analysis and essential data you need to know:
The ETH futures market has shown remarkable activity, with total open interest surging to 3.2 million ETH—its highest point since January 2023, valued at $11.7 billion. This rise is primarily driven by dominant buy orders, which have propelled prices upwards and contributed to the largest hourly liquidation of the year, involving 9.3K ETH.
Investor preference for Ethereum over Bitcoin is evident as the ETH-BTC Open Interest ratio increased from 0.54 to 0.67. The narrowing of the ETHE fund discount to 17%, the lowest in two months, also suggests a bullish outlook, pending ETF approval.
Significant activity from permanent holders has also been a key factor, with purchases exceeding 100K ETH, marking the highest daily level since September 2023. Furthermore, a notable 62K ETH has flowed into exchanges, indicating potential price volatility ahead.
Encouragingly, the volume of staked ETH has rebounded to 32.5 million, showcasing renewed investor confidence, which is crucial as the market anticipates potential shifts depending on the ETF approval outcome.
For all the latest updates and live data, check out our weekly crypto report.
@cryptoquant_official
The ETH futures market has shown remarkable activity, with total open interest surging to 3.2 million ETH—its highest point since January 2023, valued at $11.7 billion. This rise is primarily driven by dominant buy orders, which have propelled prices upwards and contributed to the largest hourly liquidation of the year, involving 9.3K ETH.
Investor preference for Ethereum over Bitcoin is evident as the ETH-BTC Open Interest ratio increased from 0.54 to 0.67. The narrowing of the ETHE fund discount to 17%, the lowest in two months, also suggests a bullish outlook, pending ETF approval.
Significant activity from permanent holders has also been a key factor, with purchases exceeding 100K ETH, marking the highest daily level since September 2023. Furthermore, a notable 62K ETH has flowed into exchanges, indicating potential price volatility ahead.
Encouragingly, the volume of staked ETH has rebounded to 32.5 million, showcasing renewed investor confidence, which is crucial as the market anticipates potential shifts depending on the ETF approval outcome.
For all the latest updates and live data, check out our weekly crypto report.
@cryptoquant_official
Puell Multiple reaches the Discount range after a year
“Investors may interpret the fall in the Puell Multiple as a sign that the market is adjusting to a new phase of scarcity, potentially preparing for a rally.” – Link
By G a a h | @cryptoquant_official
“Investors may interpret the fall in the Puell Multiple as a sign that the market is adjusting to a new phase of scarcity, potentially preparing for a rally.” – Link
By G a a h | @cryptoquant_official
Bitcoin: The whales’ appetite for buying returns
“They are now returning with a strong buying force again, indicating that the current prices are suitable for purchasing and accumulating despite the widespread fear.” – Link
By abramchart | @cryptoquant_official
“They are now returning with a strong buying force again, indicating that the current prices are suitable for purchasing and accumulating despite the widespread fear.” – Link
By abramchart | @cryptoquant_official
Surge in High-Value Transactions on TON Network
“Transactions exceeding $1M USD dominate the on-chain volume of TON.” – Link
By joaowedson | @cryptoquant_official
“Transactions exceeding $1M USD dominate the on-chain volume of TON.” – Link
By joaowedson | @cryptoquant_official
The Bitcoin bull market is still not over
“In past bull markets, MVRV peaked at 4.83 and 3.97, and currently has only reached 2.78. It has still not entered the overvalued zone and further rises can be expected.” – Link
By Crypto Dan | @cryptoquant_official
“In past bull markets, MVRV peaked at 4.83 and 3.97, and currently has only reached 2.78. It has still not entered the overvalued zone and further rises can be expected.” – Link
By Crypto Dan | @cryptoquant_official